Celestica Inc. (NYSE:CLS) Stock Position Decreased by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 35.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,073 shares of the technology company’s stock after selling 38,857 shares during the quarter. Raymond James & Associates owned 0.06% of Celestica worth $3,582,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CLS. Westover Capital Advisors LLC lifted its holdings in shares of Celestica by 20.9% in the second quarter. Westover Capital Advisors LLC now owns 21,776 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 3,764 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Celestica by 62.9% in the first quarter. BNP Paribas Financial Markets now owns 546,230 shares of the technology company’s stock valued at $24,548,000 after purchasing an additional 210,943 shares in the last quarter. Rockingstone Advisors LLC purchased a new stake in shares of Celestica in the second quarter valued at $2,442,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Celestica in the first quarter valued at $1,231,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Celestica in the first quarter valued at $1,040,000. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CLS has been the subject of a number of research analyst reports. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their price objective on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Celestica Price Performance

NYSE CLS opened at $70.22 on Monday. Celestica Inc. has a fifty-two week low of $24.37 and a fifty-two week high of $71.56. The stock’s 50-day moving average is $54.04 and its two-hundred day moving average is $53.22. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market cap of $8.33 billion, a P/E ratio of 22.29 and a beta of 2.24.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 21.58% and a net margin of 4.08%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. On average, analysts anticipate that Celestica Inc. will post 3.44 earnings per share for the current fiscal year.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.